LG, a South Korean consumer electronics giant has been planning to make India its export hub.

According to Ki Wan Kim, LG Electronics India Managing Director, one of the main reasons for the company to look at making India an export hub is on account of tension prevailing between South Korea and China.

LG that has two manufacturing units in India, exports to the Middle East and countries in the eastern coast of African continent.

At present around 10 percent sales of LG Electronics India are from exports. Last Year, it had sales of Rs 22,000 crore.

Ki Wan has said that, “ties between South Korea and India have improved. All Korean (companies) have started to see India as a strategically important manufacturing base not only for India but for other areas.”

He said that “already we are exporting from Noida and Pune to Middle East mainly in Saudi and Iran and African countries on (the eastern coast of the continent).”

“India is becoming more competitive economically. With GST coming up, its secured and transparent taxation regime along with a stable political system would help in project as a bigger manufacturing hub,” he added.

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